TORONTO, Sept. 06, 2019 (GLOBE NEWSWIRE) -- CF Energy Corp., (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), an energy provider in the People’s Republic of China (the ”PRC”), is pleased to announce the following:
First Installment Dividend of 2019
Reference is made to the press release of CF Energy issued on January 30, 2019 that announced, among other things, the declaration of the first installment dividend in respect of the 2019 year (the “2019 First Installment Dividend”) in the amount of approximately RMB 3,500,000 million. The Company has determined that the amount of the 2019 First Installment Dividend will be RMB 3,500,000 (C$649,600 based on the prevailing exchange rate between C$ and RMB as at September 4, 2019), an equivalent of approximately C$0.010 per common share, based on the total number of common shares outstanding as of September 4, 2019.
The 2019 First Installment Dividend is payable on September 20, 2019 to shareholders of record as of the close of business on September 16, 2019. Trading in the common shares of CF Energy will begin on an ex-dividend basis at the opening of trading on September 13, 2019.
Second Installment of the 2019 Special Dividend
The press release of CF Energy issued on January 30, 2019 also announced the declaration of the 2019 special dividend of RMB 12.9 million (approx. C$2,546,815 based on the prevailing exchange rate between C$ and RMB as at January 30, 2019) to be distributed in two equal installments (the “2019 Special Dividend”) with the first installment paid out in early April 2019. The board of directors of the Company has also approved the payment of the second Installment of the 2019 Special Dividend in December 2019 with record date, ex-dividend date and payment date to be confirmed and announced in due course.
About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)
CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, CF Energy was recognized as being one of China’s the Top Ten Most Influential Brands in the Natural Gas Industry and in 2019, ranked amongst the 2019 TSX Venture 50 top performers on the TSXV for the 2018 year.
CONTACT INFORMATION
Corporate Investor Relations
investor.relations@changfengenergy.cn
Charles Wang
Executive Assistant to CEO & Chair of the Board
zhaoyu.wang@changfengenergy.cn
Frederick Wong
Director of the Board
fred.wong@changfengenergy.cn
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future, including with respect to the timing and payment of dividends. These Forward-Looking statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon.
Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial markets. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company’s filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedar.com. The Company urges readers to carefully consider those factors.
The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
